Keynote
Blockchain Group has bought over $50 million in 580 BTC, marking its biggest acquisition to date. The company’s stock price has skyrocketed 225% since it began accumulating Bitcoin in November.
Business interest in Bitcoin is growing
BTC
$87 275
24-hour volatility:
0.2%
Market Cap:
$1.73 t
Vol. 24H:
$20.74 b
France-based The Blockchain Group has expanded the BTC Treasury with the purchase of 580 Bitcoin, exceeding $50 million. The latest purchase, disclosed in a March 26th out-of-hour statement, is the largest BTC purchase to date.
The company’s stock has skyrocketed at an astounding 225% since launching its Bitcoin accumulation strategy in November. 15 The first purchase of BTC occurred on November 5th, coinciding with Donald Trump’s victory in the US presidential election.
The Blockchain Group continued on December 4th, when Bitcoin was trading at $96,000, with another purchase of 25 BTC. The move came just before the highly anticipated $100,000 price breakout.
According to the company’s website, the Bitcoin investment strategy aims to leverage the valuation value of BTC by leveraging excess cash reserves and strategic financing instruments.
Interestingly, the latest purchase coincided with Gamestop’s announcement, which is scheduled to buy Bitcoin.
BTC price eyes are $95,000 as bullish patterns form
Bitcoin is currently trading at around $87,400 and has no losses or profits over the past 24 hours. However, analysts are changing bullish as the classic reverse head and shoulder (H&S) patterns are in shape on the three-day price chart.
Inverse H&S is a bullish inversion pattern, usually indicating the end of a downtrend and the beginning of an upward movement. Neckline resistance appears to be around $87,600, and confirmed breakouts above this level could trigger a rally towards $95,000.
The popular Crypto Trader Superbitcoinbro focused on X’s development, saying, “This is just the target of this small pattern. If it were to play, we could have earned six digits of profit from the higher time frame pattern.”
On the daily BTC price chart, the MACD line crosses above the signal line, increasing the momentum of the signal rising. A reduction in negative histogram bars further indicates a weakening of bear pressure. Move over the zero line to see more uptrends.
The price is approaching about $89,000 for the upper bollinger band, representing the next short-term resistance. A breakout above this level could push Bitcoin to $91,000 and potentially $95,000.
Meanwhile, RSI stands at 51, leaving room for even greater price growth.
Earlier this week, popular Crypto analyst Niels predicted that Bitcoin is likely to reach a new peak by April or May. He pointed out that M2 Money Supply has made its highest appearance ever.
Historically, whenever the supply of the M2 reached a new high, Bitcoin continued to have a fresh ass within a few months.
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Disclaimer: Coinspeaker is committed to providing fair and transparent reporting. This article is intended to provide accurate and timely information, but should not be considered financial or investment advice. Market conditions can change quickly, so we recommend that you review your information yourself and consult with an expert before making a decision based on this content.
A crypto journalist with over five years of experience in the industry, Perth has worked with leading media outlets in the Crypto and Finance world, gathering experience and expertise in this field after surviving the bear and bull market for many years. Perth is also the author of four self-published books.
Parth Dubey on LinkedIn
